Significant expansion of the real estate portfolio with the addition of nine properties in total, of which six in the logistics sector and three in the commercial real estate sector (big-box).
Purchase of one logistics center and one commercial asset (big-box), with total fair value of €7.8 million as at June 30th, 2021.
On June 29th , 2021, the Company acquired for a consideration of €24.6 million the total number of shares of six societes anonyms managing seven properties in total, five of which are in the logistics sector and two big boxes, with a total fair value of €55.2 million as of June 30th, 2021.
As of June 30th, 2021, total investments portfolio increased by 61% and amounted to €171.5 million
The Group’s real estate portfolio includes sixteen investment properties, valued at €131.6 mn compared to seven properties valued at €65.9 million as of December 31st , 2020.
In 2020, the Group invested in social real estate (schools), via its subsidiary JPA S.A., which manages ten school units located in Attica through a service concession (PPP) contract.
The total value of the relevant concession right (Financial assets at amortized cost) amounted to €39.9 million as of June 30th, 2021, over €40.4 million as of December 31st , 2020.
The Group’s consolidated Total Equity rose to €67.8 million on June 30th, 2021 and was further strengthened upon the completion of the third consecutive Share Capital Increase, completed in July 2021.
Revenue increase, improvement in operating profitability and pre-tax profitability on a consolidated basis compared to the corresponding period of 2020, as a result of the addition of new investments as well as the incorporation of the subsidiary JPA S.A, that was fully consolidated in the Group’s financial results for the first time.
Following the successful completion of the €75 mn Share Capital Increase in July 2021, which combined contribution in kind and cash, PREMIA is more than well equipped for an even more dynamic growth as it has significantly expanded its investment portfolio, it possesses the necessary equity capital to finance its growth and has enhanced its shareholders’ structure with the entrance of institutional and private investors, among which Fastighets AB Balder, one of the largest European real estate companies, which obtained a 17.22% stake, assuming a strategic investor role.
The Company’s target is to further enhance its real estate portfolio in sectors that is already active in, i.e., logistics centres, commercial real estate (big boxes) and social real estate as well as to selectively assess its entrance in other real estate sectors.
Moreover, the Company plans to further enhance the qualitative characteristics of its portfolio, pursuing the adoption of Sustainable Development principles through the harmonization to the practices of international and Greek ESG indicators (Environmental, Social and Governance).
